LOS ANGELES, Calif., May 8, 2020 - Puma Biotechnology, Inc. (NASDAQ: PBYI), a
biopharmaceutical company, announced that on May 4, 2020 the Compensation Committee of Puma’s
Board of Directors approved the grant of inducement restricted stock unit awards covering an aggregate
of 78,125 shares of Puma common stock to 12 new non-executive employees.
The awards were granted under Puma’s 2017 Employment Inducement Incentive Award Plan, which was
adopted on April 27, 2017 and provides for the granting of equity awards to new employees of Puma. The
restricted stock unit awards vest over a three-year period, with one-third of the shares underlying each
award vesting on the first anniversary of the award’s vesting commencement date, May 1, 2020, and one-
sixth of the shares underlying each award vesting on each six-month anniversary of the vesting
commencement date thereafter, subject to continued service. The awards were granted as an inducement
material to the new employees entering into employment with Puma, in accordance with Nasdaq Listing
Rule 5635(c)(4).

About Puma Biotechnology

Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on the development and
commercialization of innovative products to enhance cancer care. The Company in-licenses the global
development and commercialization rights to PB272 (neratinib, oral), PB272 (neratinib, intravenous) and
PB357. Neratinib, oral was approved by the U.S. Food and Drug Administration in 2017 for the extended
adjuvant treatment of adult patients with early stage HER2-overexpressed/amplified breast cancer,
following adjuvant trastuzumab-based therapy, and is marketed in the United States as NERLYNX®
(neratinib) tablets. In February 2020, NERLYNX was also approved by the FDA in combination with
capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer
who have received two or more prior anti-HER2-based regimens in the metastatic setting. NERLYNX
was granted marketing authorization by the European Commission in 2018 for the extended adjuvant
treatment of adult patients with early stage hormone receptor-positive HER2-overexpressed/amplified
breast cancer and who are less than one year from completion of prior adjuvant trastuzumab-based
therapy. NERLYNX is a registered trademark of Puma Biotechnology, Inc.